Southeast Asia’s energy chiefs meet against backdrop of Iran war
Summary
Southeast Asia’s energy ministers are meeting in Manila to discuss ways to improve energy security amid supply problems caused by the US-Israel war on Iran. The group, called ASEAN, wants to reduce its dependence on Middle Eastern oil and gas and plans to explore sharing fuel and connecting power grids in the region.Key Facts
- ASEAN’s energy meeting takes place during disruptions from a war involving the US, Israel, and Iran.
- Southeast Asia relies heavily on imported oil and gas, with about half coming from the Middle East before the conflict.
- The Philippines, chairing ASEAN, declared a national energy emergency, warning of possible fuel shortages.
- Energy use in Southeast Asia has increased by nearly 30% in the last decade, while oil production there has fallen by 40% since the 1990s.
- Electricity demand in the region is expected to grow by about 5.4% per year from 2026 to 2030.
- ASEAN countries are considering plans like fuel-sharing, power grid integration, and clean energy projects.
- Different member countries have different priorities, such as undersea cable connections or developing a regional carbon market.
- Experts warn that Southeast Asia will face challenges meeting rising energy needs and that cooperation can help manage disruptions better.
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